An examination on the cost efficiency of the banking industry under multiple output prices’ uncertainty

References

• Abdulkadri , AO , Langemeier , MR and Featherstone , AM . 2006 . Estimating economies of scope and scale under price risk and risk aversion . Applied Economics , 38 : 191 – 201 .
   Web of Science ®Google Scholar
• Antonovitz , F and Roe , T . 1986 . A theoretical and empirical approach to the value of information in risky markets . Review of Economics and Economics , 68 : 105 – 14 .
   Google Scholar
• Appelbaum , E . 1991 . Uncertainty and the measurement of productivity . Journal of Productivity Analysis , 2 : 157 – 70 .
   Google Scholar
• Appelbaum , E and Katz , E . 1986 . Measures of risk aversion and the comparative statics of industry equilibrium . American Economic Review , 76 : 524 – 9 .
   Google Scholar
• Appelbaum , E and Kohli , U . 1993 . Import price uncertainty and the distribution of income . Review of Economics and Statistics , 79 : 620 – 30 .
   Google Scholar
• Appelbaum , E and Ullah , A . 1997 . Estimation of moments and production decisions under uncertainty . Review of Economics and Statistics , 79 : 631 – 7 .
   Web of Science ®Google Scholar
• Ballivian , MA and Sickles , RC . 1994 . Product diversification and attitudes toward risk in agricultural production . Journal of Productivity Analysis , 5 : 271 – 86 .
   Web of Science ®Google Scholar
• Batra , RN and Ullah , A . 1974 . Competitive firm and the theory of input demand under price uncertainty . Journal of Political Economy , 82 : 537 – 48 .
   Web of Science ®Google Scholar
• Battese , GE , Rambaldi , AN and Wan , GH . 1997 . A stochastic frontier production function with flexible risk properties . Journal of Productivity Analysis , 8 : 269 – 80 .
   Web of Science ®Google Scholar
• Baumol , WJ , Panzar , JC and Willig , RD . 1982 . Contestable Markets and the Theory of Industry Structure , New York : Harcourt Brace Jovanovich .
   Google Scholar
• Berger , AN . 1993 . Distribution-free estimates of efficiency in the US banking industry and tests of the standard distributional assumptions . Journal of Productivity Analysis , 4 : 261 – 92 .
   Google Scholar
• Chambers , RG . 1983 . Scale and productivity measurement under risk . American Economic Review , 73 : 802 – 5 .
   Web of Science ®Google Scholar
• Dalal , AJ . 1990 . Symmetry restrictions in the analysis of the competitive firm under price uncertainty . International Economic Review , 31 : 207 – 11 .
   Google Scholar
• Hartman , R . 1975 . Competitive firm and the theory of input demand under price uncertainty: comment . The Journal of Political Economy , 83 : 1289 – 90 .
   Web of Science ®Google Scholar
• Hartman , R . 1976 . Factor demand with output price uncertainty . The American Economic Review , 66 : 675 – 81 .
   Web of Science ®Google Scholar
• Holthausen , DM . 1976 . Input choices and uncertain demand . American Economic Review , 66 : 94 – 103 .
   Web of Science ®Google Scholar
• Huang , TH . 2004 . Empirical estimation of production risk using a cost function with panel data . Applied Economics Letters , 11 : 297 – 302 .
   Web of Science ®Google Scholar
• Huang , TH and Kao , TL . 2006 . Joint estimation of technical efficiency and production risk for multi-output banks under a panel data cost frontier model . Journal of Productivity Analysis , 26 : 87 – 102 .
   Google Scholar
• Huang , TH and Wang , MH . 2001 . Measuring scale and scope economies in multiproduct banking–a stochastic frontier approach . Applied Economics Letters , 8 : 159 – 62 .
   Web of Science ®Google Scholar
• Huang , TH and Wang , MH . 2002 . Comparison of economic efficiency estimation methods: parametric and non-parametric techniques . The Manchester School , 70 : 682 – 709 .
   Google Scholar
• Huang , TH and Wang , MH . 2004 . Estimation of scale and scope economies in multiproduct banking: evidence from the Fourier flexible functional form with panel data . Applied Economics , 36 : 1245 – 53 .
   Web of Science ®Google Scholar
• Hughes , JP and Mester , LJ . 1998 . Bank capitalization and cost: evidence of scale economies in risk management and signaling . Review of Economics and Statistics , 80 : 314 – 25 .
   Web of Science ®Google Scholar
• Ishii , Y . 1978 . One the theory of competitive firm under price uncertainty: note . American Economic Review , 67 : 768 – 9 .
   Google Scholar
• Just , R . 1974 . An investigation of the importance of risk in farmers’ decisions . American Journal of Agricultural Economics , 56 : 14 – 25 .
   Web of Science ®Google Scholar
• Just , RE and Pope , RD . 1978 . Stochastic specification of production functions and economic implication . Journal of Econometrics , 7 : 67 – 86 .
   Google Scholar
• Kataoka , S . 1963 . A stochastic programming model . Econometrica , 31 : 181 – 96 .
   Web of Science ®Google Scholar
• Kim , HY . 1986 . Economies of scale and economies of scope in multiproduct financial institutions: further evidence from Credit Union . Journal of Money, Credit, and Banking , 18 : 220 – 6 .
   Web of Science ®Google Scholar
• Kumbhakar , SC . 1993 . Production risk, technical efficiency, and panel data . Economics Letters , 41 : 11 – 16 .
   Web of Science ®Google Scholar
• Mester , LJ . 1996 . A study of bank efficiency taking into account risk-preferences . Journal of Banking and Finance , 20 : 1025 – 45 .
   Web of Science ®Google Scholar
• Parkin , M . 1970 . Discount house portfolio and debt selection . Review of Economic Studies , 37 : 469 – 97 .
   Web of Science ®Google Scholar
• Robison , LJ and Barry , PJ . 1987 . The Competitive Firm's Response to Risk , New York, , USA : Macmillan Publishing Company .
   Google Scholar
• Roosen , J and Hennessy , DA . 2003 . Tests for the role of risk aversion on input use . American Journal of Agricultural Economics , 85 : 30 – 43 .
   Google Scholar
• Roy , AD . 1952 . Safety first and the holdings of assets . Econometrica , 20 : 431 – 49 .
   Web of Science ®Google Scholar
• Sandmo , A . 1971 . On the theory of the competitive firm under price certainty . American Economic Review , 61 : 65 – 73 .
   Web of Science ®Google Scholar
• Shen , CH . 2005 . Cost efficiency and banking performances in a partial universal banking system: application of the panel smooth threshold model . Applied Economics , 37 : 1 – 17 .
   Google Scholar
• Smith , KR . 1970 . Risk and the optimal utilization of capital . Review of Economic Studies , 37 : 253 – 9 .
   Web of Science ®Google Scholar
• Telser , LG . 1955 . Safety first and hedging . Review of Economic Studies , 23 : 1 – 16 .
   Web of Science ®Google Scholar
• Turnovsky , SJ . 1973 . Production flexibility, price uncertainty, and the behavior of the competitive firm . International Economic Review , 14 : 395 – 413 .
   Google Scholar
• Tveteras , R . 1999 . Production risk and productivity growth: some findings for Norwegian salmon aquaculture . Journal of Productivity Analysis , 12 : 161 – 79 .
   Web of Science ®Google Scholar
• Viaene , JM and Zilcha , I . 1998 . The behavior of competitive exporting firms under multiple uncertainty . International Economic Review , 39 : 591 – 609 .
   Web of Science ®Google Scholar
• Wolak , FA and Kolstad , CD . 1991 . A model of homogeneous input demand under price uncertainty . American Economic Review , 81 : 514 – 38 .
   Web of Science ®Google Scholar